"It's Best To Do As Soros Does..."

That's the message in Dominic Frisby's latest commentary, in which he says that the gold bull market is still intact. On one point, his thinking aligns with my own:

This bull market is almost ten years old now. The bubble is, shall we say, at least partially inflated. But it is nowhere near bursting point. We are far from the blow-off top that usually characterises the end of a bull market.

He then says that Soros may be thinking along the same line. [Actually, more than a few gold bulls are. The ones who'd rather not use the word "bubble" refer to the bubble stage as the third stage of the bull market.]

Commendably, he points out that it makes sense to badmouth an investment before going in to it; a lower price is better than higher. This points puts a bit of a different stamp on contrary-opinion indicators.

The long-term chart embedded in his commentary shows that the gold market in the last two-and-a-half months looks a lot like early 2008's:



Those who believe that charts have a prognosticiative power can take this comparison, add Greece's debt woes, and weave a pattern together. If Greece is Euroland's Bear Sterns...